A record end to a record quarter

January 2, 2024

2023 is in the books and what better way to end it than with a stellar month of December performance. We started in January booking just $[ ]K in revenue and we're ending December with over $[ ]K in booked revenue for the month (excluding the usual year end accounting write-offs and deferrals), a testament to just how far we've come in 12 months. The revenue mix was on all fronts, including some new line items that we can expect more of this year, including the spread we make from the credit facility as well as the interest we generated from our investor deposits. As an added boost, we also generated an additional $[ ]K this month in servicing fees from our broker dealer license. This will continue to grow as more of our legacy deals refinance and we add to our AUM.

So much work has been done in Q4 to really understand the nuances of where each revenue stream comes from and how it's projected to grow this year. All of this feeds into the OKRs and we're well equipped now to know each month how to put names to numbers. In this week's all hands, we're going to go into detail around just how our revenue comes to life through the OKRs. Who are the underwriters being signed in January, which inaugural deals will be coming to market, how are we tracking towards the $[ ]K average inaugural deal size, who are the new qualified purchasers going to be? All of these metrics feed into how we aim to do over $[ ]K in revenue this month.

One quarter is in the books for coming in ahead of plan. One more and we've got a trend on our hands but based on everything we're doing, I have no doubt 2024 is going to be a phenomenal year for us.